Expenditure on Consumption by Pensioner Households in Austria

The life cycle model for consumption predicts a steadily rising level of consumption regardless of age and current income. Empirical studies from the Anglo-Saxon countries and Germany, however, contradict the theory behind this model. An analysis of the consumer survey carried out by Statistics Austria allows comparing consumer spending by Austrian pensioner households, i.e., those households whose head is aged 60 or above, to working age households.